PTEN FY 2012 Earnings Report — Patterson-UTI Energy, Inc. Revenue & Financial Results | Market Cap Arena

Patterson-UTI Energy, Inc.PTEN

FY 2012 Earnings

Reported February 13, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$2.7B	—	$2.6B	—	6.1%
Op. Income	$497M	—	$526M	—	-5.4%
Gross Margin	19.4%	—	39.8%	—	-20.4pp
Net Margin	11.0%	—	12.6%	—	-1.6pp
EPS (Diluted)	$1.96	—	$2.06	—	-4.9%
Free Cash Flow	$31M	—	-$143M	—	121.9%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$2.2B
GROSS PROFIT	$529M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$64M
SG&A Expenses	$64M
Other Expenses	$508.0K
Operating Expenses	$66M
Cost & Expenses	$2.3B
OPERATING INCOME	$497M
Interest Income	$554.0K
Interest Expense	$23M
Other Income/Expenses	-$22M
INCOME BEFORE TAX	$476M
Income Tax Expense	$176M
Net Income from Continuing Ops	$299M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$299M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$297M
D&A	$527M
EBIT	$498M
EBITDA	$1.0B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$2.2B
GROSS PROFIT	$529M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$64M
SG&A Expenses	$64M
Other Expenses	$508.0K
Operating Expenses	$66M
Cost & Expenses	$2.3B
OPERATING INCOME	$497M
Interest Income	$554.0K
Interest Expense	$23M
Other Income/Expenses	-$22M
INCOME BEFORE TAX	$476M
Income Tax Expense	$176M
Net Income from Continuing Ops	$299M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$299M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$297M
D&A	$527M
EBIT	$498M
EBITDA	$1.0B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$299M
Depreciation & Amortization	$527M
Stock-Based Compensation	$23M
Deferred Income Tax	$159M
Other Non-Cash Items	-$32M
Change in Working Capital	$29M
OPERATING CASH FLOW	$1.0B
Capital Expenditure	-$974M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$66M
NET CASH FROM INVESTING	-$908M
Net Debt Issuance	$196M
Common Stock Repurchased	-$170M
Common Dividends Paid	-$30M
Other Financing Activities	-$8M
NET CASH FROM FINANCING	-$11M
FREE CASH FLOW	$31M
Net Change in Cash	$87M

Balance Sheet

Item	Amount
Cash & Equivalents	$111M
Short-Term Investments	$0
Net Receivables	$466M
Inventory	$27M
Other Current Assets	$97M
TOTAL CURRENT ASSETS	$700M
PP&E (Net)	$3.7B
Goodwill	$154M
Intangible Assets	$18M
Long-Term Investments	-$53M
Tax Assets	$53M
Other Non-Current Assets	$26M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$4.6B
Account Payables	$189M
Short-Term Debt	$6M
Deferred Revenue	$2M
Other Current Liabilities	$33M
TOTAL CURRENT LIABILITIES	$360M
Long-Term Debt	$693M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$857M
Other Non-Current Liabilities	$7M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$1.9B
Common Stock	$2M
Additional Paid-In Capital	$864M
Retained Earnings	$2.5B
Treasury Stock	-$795M
Accum. Other Comp. Income	$22M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.6B
Minority Interest	$0
TOTAL EQUITY	$2.6B
TOTAL LIABILITIES & EQUITY	$4.6B
Total Debt	$699M
Net Debt	$588M